Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENT OF OPERATIONS

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CONSOLIDATED STATEMENT OF OPERATIONS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Income Statement [Abstract]      
Revenues $ 23,155,625 $ 22,726,317 [1] $ 16,681,254
Operating expenses:      
Direct operating expenses 17,328,154 17,250,530 12,347,611
Selling, general and administrative expenses 4,096,424 3,557,167 2,955,884
Depreciation and amortization 549,923 516,797 449,976
Gain (Loss) on Disposition of Other Assets 11,015 13,927 32,082
Corporate expenses 367,629 330,817 237,834
Operating income 824,510 1,084,933 [2] 722,031 [2]
Interest expense 325,974 350,244 278,483
Loss on extinguishment of debt 2,563 18,504 0
Interest income (156,254) (237,818) (77,620)
Equity in losses (earnings) of nonconsolidated affiliates 16,675 5,455 (10,571)
Other expense (income), net (103,874) 35,274 41,215
Income before income taxes 739,426 913,274 490,524
Income tax expense (benefit) (391,698) 209,476 115,941
Net income 1,131,124 703,798 374,583
Net income attributable to noncontrolling interests 234,837 146,905 108,143
Net income attributable to common stockholders of Live Nation $ 896,287 $ 556,893 $ 266,440
Earnings Per Share, Basic $ 2.77 $ 1.35 $ 0.53
Earnings Per Share, Diluted $ 2.74 $ 1.34 $ 0.52
Weighted average common shares outstanding:      
Weighted average common shares—basic 230,124,255 228,628,390 224,809,558
Weighted average common shares—diluted 236,352,449 230,977,326 231,556,866
Reconciliation to net income available to common stockholders of Live Nation:      
Net income attributable to common stockholders of Live Nation $ 896,287 $ 556,893 $ 266,440
Accretion of redeemable noncontrolling interests (258,076) (247,438) (146,770)
Net income available to common stockholders of Live Nation—basic 638,211 309,455 119,670
Convertible debt interest, net of tax 9,187 0 0
Net income available to common stockholders of Live Nation—diluted $ 647,398 $ 309,455 $ 119,670
[1]
Prior period revenue was revised as further discussed in Note 2 – Correction of Errors in Previously Reported Consolidated Financial Statements. For the year ended December 31, 2023, the revision decreased our Concerts segment revenue by $22.8 million.
[2] For the years ended December 31, 2023 and December 31, 2022, the revision increased our AOI and operating income by $18.7 million for 2023 and decreased our AOI and operating income by $10.1 million for 2022, respectively. See further discussion in Note 2 – Correction of Errors in Previously Reported Consolidated Financial Statements.